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Company Response

10 Feb 2021

Blackrock responded re. Tyson human rights due diligence resolution

Response from Blackrock (5 February 2021):

"As a matter of company policy, we do not disclose our voting intentions in advance of shareholder meetings. However, we would draw your attention to our Investment Stewardship team’s Approach to Sustainability report (see page 22), which highlights our support for the shareholder proposal on human rights due diligence at Tyson Foods’ 2020 AGM: “We voted against management at Tyson Foods, a U.S. packaged food company, by supporting a shareholder proposal on supply chain due diligence because we were not satisfied with the company’s disclosures and practices around sustainable working conditions.”

As detailed in Our 2021 Stewardship Expectations (see page 14), we have long engaged with companies on purpose, stakeholder considerations, and human capital management. When we update our engagement priorities for 2021, we will provide a more holistic set of expectations regarding how companies monitor and manage their impacts on people, including their employees, suppliers, customers, communities, indigenous peoples and other stakeholders."

See here for an updated response sent on 11 February, which points to a vote bulletin explaing Blackrock's rationale for voting in favour of the resolution.

Part of the following timelines

USA: Human rights shareholder proposal going to vote at Tyson Foods, among high number of worker deaths and ongoing health and safety concerns

USA: Human rights shareholder proposal going to vote at Tyson Foods, among high number of worker deaths and ongoing health and safety concerns